Traveling For Business This Summer? Here’s What You Can Deduct
If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to claim deductions, you…
Do You Run a Business From Home? You May Be Able to Deduct Home Office Expenses
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re…
Your Local Transportation Costs May Be Tax Deductible
You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what is “local transportation?”…
If You’re Part of the Gig Economy, Here’s What You Need to Know About Form 1099-K
It’s hard to keep track of all the 1099 series of forms. From 1099-MISC, which reports “miscellaneous” payments (as you might guess from the name); to 1099-NEC, which reports non-employee…
Tax-Favored Retirement Plan Options for Your Organization
When you hear “retirement plan”, many of us think immediately of 401(k) plans, and rightfully so. Since their establishment in the late 1970s, 401(k)s have been offered by companies of…
If Your Spouse Joins Your Business Trip, Is it Tax Deductible?
If you’re self-employed and travel for business, your spouse might travel with you. Are their travel expenses tax deductible? The short answer? Probably not, unless your spouse is an employee…
What You Need to Know About Taxes as a Sole Proprietor
Many entrepreneurs start their businesses as sole proprietors. It’s an easy way to dip your toe in the water of being self-employed, but it’s important to meet your tax obligations.…
2021 Payroll Compliance Update
PDF DOWNLOADS: 2021 Payroll Year-End Checklist and 2022 Employee Benefit Plan Limits Summary As we all know payroll is a constantly evolving environment with new laws and regulations passed every…
7 Tax-Smart Reasons to Hire Your Spouse
Many businesses are having trouble recruiting and retaining qualified workers today. Nearly 90% of employers reported difficulty filling open positions, according to a recent survey conducted by the Society for…
Changes to Social Security Benefits and Taxes
The Social Security Administration recently announced some changes to benefits and taxes for 2022. First, the wage base for computing Social Security tax will increase from $142,800 to $147,000. Also,…